Capital Markets CRC receives a boost in funds through the sale of SMARTS

On Tuesday 27th of July at 5pm it was announced that NASDAQ OMX had bought the SMARTS Group.

The Capital Markets CRC (CMCRC) had a direct ownership stake of approximately 12% in the SMARTS Group since the merger between its start-up company Capital Markets Surveillance Services (CMSS) and SMARTS in 2008. The financial details of the deal are confidential but the transaction will provide the centre with very significant new funds to invest in education and research.

SMARTS, who will remain a CMCRC partner, is the global leader in market surveillance technology for exchanges, regulators and stock broking firms with over 30 national exchange and regulatory customers and over 50 broking firm clients in 30 countries. NASDAQ OMX is a household name and the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents and 50 countries.

The CMCRC CEO, Professor Alex Frino, says that the funds from the SMARTS sale will place the centre well on its way to achieving a major stated objective of accruing a $25 million endowment required to fund the centre and 50 PhD student scholarships in the capital market integrity domain in perpetuity.